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China and the Arctic, Iceland edition

Muhammad Makki's recent JES piece focused on China's quest for Arctic access and resources. Right on schedule, this week brought a state visit to Iceland by China's Premier Wen Jiabao, Minister of Foreign Affairs Yang Jiechi, Minister of Commerce Chen Deming and nine other ministers and deputy ministers, and Atle Staalesen reports the top item on the agenda was enhancing bilateral Arctic cooperation.  Germany’s Deutsche Welle news service also references Makki’s article in the Journal with a much broader piece on China’s ambitions in the Arctic and the country’s tactic of wooing  Scandinavian interests while trying to offset broader European concerns about China and the Arctic’s future. 
 

Use Of Methanol In Flex Fuel Heavy Duty Trucks

Impressive. Also see this excellent graph by Vik Rao's team at Research Triangle, methanol production cost as a function of natural gas price.

That just about sums it up.

Ecuador expects China to fully finance Andean mega-refinery

$13 bil for 300k bpd refinery:

[President Rafael Correa] defended his policy of moving closer toward Beijing, arguing that China has “excess liquidity” and needs to expand its access to petroleum and petroleum derivatives for its fast-growing economy.

Ecuador, for its part, “has a surplus in hydrocarbons and a deficit in liquidity, like all poor countries,” making the deal mutually attractive, Correa said.

China “is providing us with financing and we are doing a long-term contract to send them (petroleum) derivative products,” the president said.

Correa defended his administration against opposition charges that Ecuador was becoming too dependent on Chinese capital.

“I’ll stop taking financing from China when the United States does so, because the country that keeps the United States going is called China, with its financing,” Correa said.

 

 

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